bitcoin is down to $3k?!
lol.. it costs more than $3k to mine a bitcoin nowadays.
i can see all those bitcoin farms going bankrupt
I believe a few have or are about to file for bankruptcy.
bitcoin is down to $3k?!
lol.. it costs more than $3k to mine a bitcoin nowadays.
i can see all those bitcoin farms going bankrupt
When everyone is mining for gold, don't join them, sell them mining picks.
They didn't follow that advice, though. A lot of the ASIC miner guys realized that they can make more money mining with their hardware than they could selling it while Bitcoin was going up. Now that it's plummeting, they're just as screwed as everyone else.
Good time to buy!
Never thought of it this way
Good time to buy!
Bitcoin isn't a pyrmaid scheme. That's a silly concept. But, people are short sighted. They aren't thinking long term and most got caught up in the hype. Where is BitCoin going to be in 20 years? That's the question you should ask yourself. Play the long game. Will it be around, and if so will it worthwhile to hold onto your share. IMO, it's not going anywhere. We just have to see I guess.
There's a lot not to like about Bitcoin, but that isn't really one of those things. Nobody behind BTC ever meant for it to be a drain on electrical output. It just happened that way since nobody really thought through the whole PoW thing to its conclusion.
The major cryptocurrencies were supposed to be migrating over to Proof Of Stake by now. That's kinda hard to do when majority of Bitcoin mining is now done by massive Chinese mining conglomerates who are happy with maintaining the status quo, though.